Jordan Public Schools receives clean FY25 audit; board approves audit
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Summary
An independent auditor gave Jordan Public Schools an unmodified (clean) opinion on its FY25 financial statements while noting several findings; the school board voted to approve the audit at its Dec. 8 meeting.
An independent auditor told the Jordan Public School District Board of Education on Dec. 8 that the district’s fiscal year 2025 financial statements received an unmodified (clean) opinion, and the board approved the audit after a brief discussion.
Casey Tom, an audit manager with the Ida Bailey Mankato office, said the district received “a clean audit opinion, which we called an unmodified opinion,” and that the audit provides reasonable — but not absolute — assurance because procedures are performed on a test basis. Tom said implementation of a new Governmental Accounting Standards Board standard changed how compensated absence liabilities are calculated and resulted in a restatement that increased long-term liabilities by about $2.9 million. He described that restatement as a standardized, cross-district change and “not anything that you’re concerned about.”
Tom said the district’s single-audit testing covered about $1.3 million in federal awards, with the child nutrition cluster totaling about $538,000. He flagged several findings under the auditor’s report: continued use of the audit firm to prepare the financial statements (noted as recurring for districts of this size); a material journal entry related to the GASB implementation (a one-time calculation assistance item); one instance where an I-9 form was not retained for an employee; a small coding error in student activity funds (less than $100) that has been corrected; and a few unclaimed outstanding checks that must be remitted to the state.
Board members asked clarifying questions about the restatement and the findings. Tom said district staff, including Amy and her team, provided explanations and that he expects the material-journal-entry finding to be resolved next year once staff has taken over the GASB calculation fully.
After the presentation, the board made a motion to approve the FY25 audit; the motion was seconded and adopted by voice vote.
The auditor recommended continued close coordination between the district’s finance staff and external auditors as GASB implementation work continues. The district clerk will file the audited statements per statutory and local reporting requirements.